"The problem is clear rent is too high and home ownership is too far out of reach, Pritzker said in his State of the State address on Wednesday. We are not building enough homes fast enough. The governor's answer is a new Building Up Illinois Developments, or BUILD, plan, pitched as a sweeping statewide push to lower housing costs by making it easier, faster and cheaper to build."
"Pritzker's proposal would scrap single-family zoning for lots larger than 2,500 square feet. The governor's agenda sets in motion a path pursued by other governors and state legislatures that have moved to address housing affordability. Among them, Colorado, Washington, Texas, Florida and California have made some degree of progress. In neighboring Indiana, lawmakers have proposed housing reforms to preempt local zoning and spur new residential construction. Widely considered a Democratic presidential hopeful, Pritzker also joins other potential contenders in elevating housing."
Rent is too high and homeownership is largely unaffordable for many Illinois residents. Illinois is not building enough homes quickly to meet demand. The BUILD plan aims to lower housing costs by making it easier, faster and cheaper to build new housing. Proposed legislation would legalize family-friendly housing types—duplexes, triplexes, four-flats and accessory dwelling units—in residential areas statewide and eliminate single-family zoning on lots larger than 2,500 square feet. The approach mirrors reforms pursued in Colorado, Washington, Texas, Florida and California and proposed efforts in neighboring Indiana and Pennsylvania. Illinois REALTORS applauded the emphasis on missing-middle housing and longstanding advocacy for solutions.
Read at www.housingwire.com
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